Ince Capital Partners II, L.P.
INCE Capital · adviser of record: Ince Capital LTD. · 2021 vintage
Ince Capital Partners II, L.P. is a 2021 venture fund managed by INCE Capital, with $478mm raised (Form D, amount sold). It reported $584mm in gross assets at year-end 2025, 1.22x its size, its highest reported value.
- Latest value held
- $584mm year-end 2025
- Peak
- $584mm year-end 2025
- Fund size
- $478mm Form D, amount sold
- Held vs. size
- 1.22x peak 1.22x
Value held by year-end
Gross asset value reported on Form ADV at each year-end. Dashed line: fund size. Open in the Fund Tracker
| Year-end | Gross assets | ÷ size | Change |
|---|---|---|---|
| 2025 | $584mm | 1.22x | +23% over 2 yrs |
| 2023 | $475mm | 0.99x | -1% |
| 2022 | $478mm | 1.00x | +0% |
| 2021 | $478mm | 1.00x | – |
Other funds from INCE Capital
About these numbers
Gross asset value is what the manager reports holding in the fund at each fiscal year-end, on SEC Form ADV, Schedule D. It includes the GP’s own commitment and is before carried interest, so it is not the LPs’ net return, and it does not show cash already distributed. A fall in value can mean distributions, markdowns or both. Fund size is the amount sold reported on Form D, which for some funds reflects only a first close. Private fund ID 805-7837314608. Data updated October 13, 2026.
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